IMDEX Limited (ASX:IMD): FY26 Growth, Platform Expansion and Balance Sheet Priorities

Aditi Sarkar

08 October 2026 12:52 AM AEDT

IMDEX Limited (ASX:IMD): FY26 Growth, Platform Expansion and Balance Sheet Priorities

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Highlights

FY26 Revenue reached A$520 million, with organic growth contributing to the increase.
Reported NPAT was A$79 million, while normalised EBITDA reached A$163 million.
Normalised Operating Cash Flow was A$135 million with cash conversion of 83%.
Five acquisitions expanded IMDEX’s software, analytics and geoscience capabilities.
Management entered FY27 focused on integration, technology development and market expansion.

IMDEX Limited (ASX:IMD) is a global Mining technology company providing drilling optimisation, sensing, data and geoscience solutions to exploration and mining customers. Its FY26 result showed growth across revenue, Earnings and cash generation while the Business broadened its technology portfolio through acquisitions. The year also increased the importance of integration and Capital discipline as IMDEX scales a larger physical-to-digital platform.

FY26 Financial Performance

For the year ended 30 June 2026, IMDEX reported revenue of A$520 million, up 21% year on year and 23% on a constant-currency basis. Organic growth was 17%. Reported EBITDA was A$179 million, while reported NPAT reached A$79 million. On a normalised basis, EBITDA was A$163 million and NPAT was A$59 million. The normalised EBITDA Margin expanded to 31%, indicating that earnings growth outpaced revenue growth during the year.

Cash generation also remained an important part of the result. IMDEX Limited (ASX:IMD) reported normalised operating cash flow of A$135 million and cash conversion of 83%. The board declared a fully franked final Dividend of 1.75 cents per share, taking the full-year dividend to 3.4 cents per share. These figures provide context for the company’s ability to fund technology Investment while managing acquisition-related capital requirements.

Technology Platform and Market Share Expansion

The FY26 result reflected continued adoption of IMDEX’s connected technology offering. The company said its share of wallet increased to A$2.40 per A$100 of global exploration spend, while integrated on-site services revenue increased 20%. The average number of global sites using integrated solutions rose 42%, pointing to broader use of multiple products and services across customer operations.

IMDEX Limited (ASX:IMD) also increased the contribution from platform-based activities. Platform revenue represented 47% of group revenue in FY26. The business is combining hardware, sensors, software and analytics across its Drill Site Technologies and Digital Earth Knowledge activities, with the aim of supporting customers from data collection at the drill site through to interpretation and decision support.

Acquisitions Broaden the Offering

During FY26, the company completed five acquisitions: Earth Science Analytics, Datarock, ALT, Mount Sopris Instruments and Krux. Together, these transactions added software, analytics, geoscience and instrumentation capabilities. Management’s focus is now on integrating the acquired businesses, connecting their technologies to the broader IMDEX platform and using the company’s global sales and service network to expand customer access.

The acquisitions also place greater emphasis on Balance Sheet management. The source material for the article noted net Debt of A$199 million and Leverage of 1.3 times. For IMDEX Limited (ASX:IMD), the key financial task is therefore to maintain cash generation while capturing Acquisition synergies and continuing investment in research and development.

FY27 Priorities

Management entered FY27 with a focus on technology leadership, integration and expansion into mining and adjacent earth science markets. It plans to keep investing in research and development, strengthen the integrated physical-to-digital platform and pursue opportunities across software, analytics and AI-enabled geoscience solutions. Market conditions remain relevant because exploration activity influences Demand for many of IMDEX’s products and services.

Key Insights

IMDEX Limited (ASX:IMD) exited FY26 with higher revenue, earnings and operating cash flow, alongside a broader technology portfolio. The next phase will depend on converting acquisitions into integrated customer solutions, sustaining cash conversion and managing leverage while the company continues to invest in its platform. Exploration activity, customer technology adoption and integration execution remain the main operating variables to monitor through FY27.

FAQs

Q: What did IMDEX report for FY26 revenue?

A:IMDEX reported FY26 revenue of A$520 million, up 21% year on year.

Q: What was IMDEX’s reported FY26 net profit?

A:Reported NPAT was A$79 million for FY26.

Q: How much normalised operating cash flow did IMDEX generate?

A:Normalised operating cash flow was A$135 million, with cash conversion of 83%.

Q: What acquisitions did IMDEX complete during FY26?

A:The company completed acquisitions of Earth Science Analytics, Datarock, ALT, Mount Sopris Instruments and Krux.

Q: What are key areas to watch for ASX:IMD in FY27?

A:Key areas include acquisition integration, cash conversion, leverage, technology adoption and exploration market activity.

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